Overview
A Registered Education Savings Plan (RESP) is a tax-advantaged savings vehicle designed to help families save for their children’s post-secondary education. Contributions to the RESP grow tax-free, and government grants further enhance savings. When the beneficiary enrolls in a qualifying educational program, funds can be withdrawn to cover educational expenses. RESP’s tax efficiency and potential for government grants make it a valuable tool for parents and guardians planning for their children’s future education costs.
Why Choose Us
Tax-Deferred Growth:
Contributions to a Registered Education Savings Plan (RESP) grow tax-deferred. The investment income earned within the plan is not taxed until the funds are withdrawn, allowing for compounded growth over time.
Government Grants:
RESP contributions can attract government grants, such as the Canada Education Savings Grant (CESG) and provincial grants. These grants add to the overall savings and enhance the ability to fund a child's education.
Flexible Withdrawals:
When the beneficiary enrolls in a qualifying post-secondary education program, funds can be withdrawn from the RESP to cover educational expenses. The flexibility of withdrawals allows for strategic use of the savings to support the beneficiary's academic
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